Are SaxoBank good for long term share trading?

This is a discussion on Are SaxoBank good for long term share trading? within the Brokerages forums, part of the Commercial category; After reading this thread about SaxoBank vs IB ( http://www.trade2win.com/boards/brok...-saxobank.html ), I'm a little reluctant to join SaxoBank. My intention ...

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Old Apr 16, 2012, 2:38pm   #1
 
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Are SaxoBank good for long term share trading?

After reading this thread about SaxoBank vs IB (http://www.trade2win.com/boards/brok...-saxobank.html), I'm a little reluctant to join SaxoBank.

My intention is to trade UK shares only. I don't intend to trade CFDs, options or FX. I will do a low volume of trades (maybe 1 or 2 a month) and hold on to them for months at a time.

I'm an Australian resident and my local broker Commsec want to charge $80 for an international trade which is a rip off. I don't seem to have many choices other than IB and SaxoBank.

So, is SaxoBank a good choice (reliable and not going to rip me off) for this type of trading? Are the prices they quote direct market prices? Do they give you free live prices once you sign up (the demo seemed to have a 15 min delay)?

I haven't really seen any positive reviews on SaxoBank so am just curiouos whether the CFD product is the main problem, or whether share trading with them should be avoided too.
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Old Apr 26, 2012, 8:47am   #2
 
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Re: Are SaxoBank good for long term share trading?

Hi Murphy12, if you’re interested in Saxo Bank, please don’t hesitate to be in touch with our local office Saxo Capital Markets (Australia) Pty Ltd. I can help you get to know our products, answer any questions you might have and introduce you to the demo so you can get a better feel for our system and you can decide for yourself whether Saxo Capital Markets is the right fit for you. Feel free to contact us on 1300 660 734 or email us at enquiries@saxomarkets.com.au
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Old Apr 27, 2012, 3:34pm   #3
Joined Apr 2012
Re: Are SaxoBank good for long term share trading?

I have traded using their platform trough their partners in my country. No major issues for more than 5 years... the platform IMO is very good once you get used to it. My impression is mainly derived from trading FX majors and FX options... tried futures occasionally with no problems at all. Customer support is good as well. Fully regulated under EU directives which are probably quite strict.
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Old May 25, 2012, 9:16pm   #4
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Re: Are SaxoBank good for long term share trading?

I used to deal with an advisory broker who had a white label agreement with Saxo Bank and the broker was a complete waste of time, not only that but their advice was terrible and they got miffed if I didn't want to trade and were very expensive with their fees!
I closed the account with them and now deal direct execution only with Saxo Bank and the service is excellent and the fees a fraction of what the broker charged me.
Just remember that most of these brokers are hiding behind the Saxo brand with this white label agreement and charging clients a fortune for a service that is second rate as compared to what they could get going direct to Saxo!
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